Williams & Novak Wealth Management LLC Makes New Investment in SpaceX $SPCX

Williams & Novak Wealth Management LLC acquired a new position in shares of SpaceX (NASDAQ:SPCX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 81,700 shares of the company’s stock, valued at approximately $12,325,000. SpaceX makes up approximately 7.4% of Williams & Novak Wealth Management LLC’s portfolio, making the stock its biggest holding.

Other hedge funds have also modified their holdings of the company. Decision Investments Inc. raised its position in shares of SpaceX by 10.7% during the third quarter. Decision Investments Inc. now owns 1,443 shares of the company’s stock worth $218,000 after purchasing an additional 139 shares during the period. Syntax Research Inc. acquired a new position in shares of SpaceX in the 2nd quarter valued at $26,000. Atwood & Palmer Inc. purchased a new position in SpaceX in the 2nd quarter worth about $29,000. PayPay Securities Corp acquired a new stake in SpaceX during the 2nd quarter worth about $30,000. Finally, Dominguez Wealth Management Solutions Inc. lifted its stake in SpaceX by 8.2% during the third quarter. Dominguez Wealth Management Solutions Inc. now owns 2,390 shares of the company’s stock valued at $361,000 after buying an additional 182 shares in the last quarter.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Stock Up 1.2%

Shares of NASDAQ SPCX opened at $162.57 on Friday. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a market cap of $2.14 trillion and a P/E ratio of -1,806.33. The stock has a 50 day simple moving average of $145.03. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The business’s revenue for the quarter was up 91.9% on a year-over-year basis. Sell-side analysts expect that SpaceX will post 0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPCX shares. UBS Group restated a “buy” rating on shares of SpaceX in a report on Tuesday, September 29th. Cfra began coverage on SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 price target on the stock. DZ Bank initiated coverage on SpaceX in a research note on Friday, August 21st. They set a “sell” rating and a $100.00 target price on the stock. Weiss Ratings assumed coverage on shares of SpaceX in a research report on Tuesday, September 1st. They issued a “sell (d)” rating for the company. Finally, Wolfe Research reiterated an “outperform” rating and issued a $175.00 price objective on shares of SpaceX in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.77.

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the transaction, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.